Trader Lark Davis Lists His Top 5 Crypto Assets To Follow In October
Lark Davis, a popular cryptocurrency analyst and trader and market lists his top five crypto assets for October.
Davis shares in a recent video with his 437,000 YouTube subscribers that he expects upwards movement for Solana (SOL), Polygon (MATIC), Elrond (EGLD), Polkadot (DOT), and Bitcoin (BTC).
Solana (SOL)
According to the analyst Solana’s blooming NFT space will attract more and more investors to the project.
“Now one thing that’s getting me very excited about Solana right now [is] NFTs. We are seeing a lot of NFTs launching on Solana these days, and we’re starting to see a lot of NFT structure coming into play here…
The whole NFT craze that’s been happening on Solana is very serious. We’ve seen people flipping NFTS for insane gains over on Solana, showing that Solana is providing the kind of NFTs that people want to buy and want to use to make money off of.”
Polygon (MATIC)
Next on the trader’s list is Polygon. He predicts that MATIC will regain its momentum as the number of daily users is increasing.
“Polygon had more daily active users than Ethereum for the first time ever. MATIC had 351,000 daily active users compared to Ethereum’s 326,000 daily active users.
And it makes sense, I understand why. When you go over and you use Polygon, you can use basically all the same great stuff that you can use on Ethereum, but for a fraction of the cost, which is of course very, very cool.”
It’s also worth mentioning that MATIC is partnering with the multinational consulting firm Ernst & Young to develop more Ethereum (ETH) scaling and enterprise solutions.
Elrond (EGLD)
Elrond (EGLD) is the third coin on the list. The number of users on Elrond network is growing, and Davis predicts ELGD price to jump after more products and decentralized finance (DeFi) applications will appear on the platform.
“I think that when we start getting the applications launching here, and that’s gonna be very, very soon, then we’re gonna start seeing the total value locked coming in, then we’re gonna see people FOMO’ing into the EGLD asset in order to lock it up in different DeFi applications. That’s when we’ll really start to see the price appreciation happening. We’re right on the precipice of that moment.”
Polkadot (DOT)
Next up is Polkadot (DOT). According to the trader, DOT is ready to move up, as that the much awaited parachain auctions are coming to Polkadot’s blockchain soon.
“Once that gets announced, I think that’s going to be a very bullish announcement for Polkadot, and that we’re gonna see the Polkadot asset rally into that first parachain auction… We’re gonna get an announcement on this sooner than a lot of people probably expect, so [I’m] definitely keeping an eye out for that.”
Bitcoin (BTC)
Last but not least, Bitcoin is the fifth coin on the analyst’s list. He predicts BTC to record higher prices this month. According to Davis the Bitcoin Futures ETF approval is mainly bullish for Wall Street, but it will lead the regulators to approve a Spot Bitcoin ETF for which investors have been waiting for years.
“I think that a Futures ETF launch opens the door for a Spot Bitcoin ETF, which is what we really want because that actually matters. That actually takes real Bitcoin, locks it up, issues out a paper contract on your brokerage account in order to be able to gobble that up. That’s the kind of Bitcoin ETF that we want…
A Futures ETF is bullish, a Spot ETF is mega bullish, and I think that the Futures ETF is probably the gateway drug for the Spot ETF, and that could happen very, very soon.”
